Still worthwhile mining with antminer S5?

[mfaidzul]

Tried the online calculator for an S5 running with 7 cent/kWh power cost... it chewed more power than it pooped BTC.

But it's still commanding 100usd apiece asking price. Any other use of that thing I dont know about??

[gt_addict]

Have you calculated it if it mines another sha256 coin?

[groll]

Tried the online calculator for an S5 running with 7 cent/kWh power cost... it chewed more power than it pooped BTC.

But it's still commanding 100usd apiece asking price. Any other use of that thing I dont know about??

Dont buy s5 anymore. If you have just sell it and buy s7 or s9. Even the website hashnest.com the bitmains arm for investment has closed its s5 miners due to high maintenance. If you want to earn beleive me just sell them. I am not an expert in mining but I just sold my three units of s5 miners due to less income. I am looking ahead that soon s5 will be useless to mining bitcoin and thats why at this moment I dispose them.

[CrimBit]

think again about electric cost too
trying use mining calculator and you will get negative profit
https://www.cryptocompare.com/mining/calculator/btc

[unholycactus]

think again about electric cost too
trying use mining calculator and you will get negative profit
https://www.cryptocompare.com/mining/calculator/btc

He used 7c/kWh.

As for mining an altcoin with the same hashing algo., there's definitly nothing worthwhile long term out there.
Maybe for a few days and if you manage to sell the coins pretty quickly.

[Gahs]

Tried the online calculator for an S5 running with 7 cent/kWh power cost... it chewed more power than it pooped BTC.

But it's still commanding 100usd apiece asking price. Any other use of that thing I dont know about??

I think they put it up there for two types of people:

1. The novice who is new to mining and does not know much about calculating electricity costs.

2. The lucky guy who lives in a third world country with cheap electricity. He just might be able to live on the satoshis he manages to scrap out of the venture... I mean after converting it into fiat.

[Eyedol-X]

Tried the online calculator for an S5 running with 7 cent/kWh power cost... it chewed more power than it pooped BTC.

But it's still commanding 100usd apiece asking price. Any other use of that thing I dont know about??

Short answer: no

[jackg]

Tried the online calculator for an S5 running with 7 cent/kWh power cost... it chewed more power than it pooped BTC.

But it's still commanding 100usd apiece asking price. Any other use of that thing I dont know about??

I think they put it up there for two types of people:

1. The novice who is new to mining and does not know much about calculating electricity costs.

2. The lucky guy who lives in a third world country with cheap electricity. He just might be able to live on the satoshis he manages to scrap out of the venture... I mean after converting it into fiat.

I'm not sure it is lucky to live in a third world country?
No clean water, more sanitary products needed (if you are wealthy enough to afford a miner)!

Tried the online calculator for an S5 running with 7 cent/kWh power cost... it chewed more power than it pooped BTC.

But it's still commanding 100usd apiece asking price. Any other use of that thing I dont know about??

You could rent GHS on online marketplaces such as NiceHash.
OR as stated in the first post, you can choose other coins to ine (if you mine another SHA256 coin it may bring more profits)
The value of the miner also includs other things of it (the value as scrap metal, and te value of the PSU if it is included, usually unless the cables are completely burned though, you could probably use it again on a better miner such as the antminer S7 which has a similar power.

[QuintLeo]

Try it at 3 cents/KWH - I think it might still eeek out a tiny profit with the recent Bitcoin price runup.

 7 cents is a goood bit below average, but nowhere near the lowest cost for electric available in some areas.

[bapparabi]

if you have free electricity then you can run other wise its not worth as s7 giving a quite low coin earning ..not advice to run s5

[Gahs]

I'm not sure it is lucky to live in a third world country?
No clean water, more sanitary products needed (if you are wealthy enough to afford a miner)!

Lots of people in third world countries have access to clean water and sanitary products (though not all), and there are those who can definitely afford even an S9 miner!

It's true... at least they buy brand new Mercedes jeep in third world countries as well!

[QuintLeo]

With the recent runup in Bitcoin price, I find that an S5 earns about $1/day NET of electric at the electric rate I am currently at.

 No idea how long that will last, but on the other hand there are other areas of the US that have somewhat better rates for us SMALL miners than where I ended up at.


 

[Blitzboy]

I think its not worth it to use s5 to mine right now very slow hashrate but if you have a free electricity cost it may profitable.. but you can not get your roi instantly if you buy right now s5.. also better to try s7 if you have free electricity..

[leowonderful]

The S5 is pretty inefficient and not nearly as good as the S9 with even free electricity. Common complaints with the miner include loud fans, and plasticky casing unlike the sturdy and well-built S3 workhorse. They do run well with a replacement fan or two, and they still run pretty well, considering their age. With free or nearly free electricity, you should make a few dollars a day for quite a long while. Fans aren't a big thing if you place them in a very isolated place, but I guarantee you won't sleep at night with an S5 in your bedroom.

Oh, and one more thing- I saw a thread once where a S5 casing was partially melted. Not sure where I saw it, but it was pretty shocking. The casing is plastic, but it still does work.

[mwizard]

With the recent runup in Bitcoin price, I find that an S5 earns about $1/day NET of electric at the electric rate I am currently at.

 No idea how long that will last, but on the other hand there are other areas of the US that have somewhat better rates for us SMALL miners than where I ended up at.

Are you certain you earn "$1/day NET of electric"?  It would be interesting to know your electricity rate.

Even if your electricity is free you would currently only earn about 90 cents a day with an S5 (Bitcoin at $660).

[alh]

With the recent runup in Bitcoin price, I find that an S5 earns about $1/day NET of electric at the electric rate I am currently at.

 No idea how long that will last, but on the other hand there are other areas of the US that have somewhat better rates for us SMALL miners than where I ended up at.


 

I too have to question this claim of $1/day in BTC revenue, much less profit after electric. If you are basing your figures on bitcoinwisdom, as I have in the past, be aware that it's still using a BTC reward of 25BTC/block. Try a couple of other calculators and you'll likely find that the revenue (i.e. before electric costs are subtracted), is more like 85 cents/day.

[notlist3d]

With the recent runup in Bitcoin price, I find that an S5 earns about $1/day NET of electric at the electric rate I am currently at.

 No idea how long that will last, but on the other hand there are other areas of the US that have somewhat better rates for us SMALL miners than where I ended up at.


 

I too have to question this claim of $1/day in BTC revenue, much less profit after electric. If you are basing your figures on bitcoinwisdom, as I have in the past, be aware that it's still using a BTC reward of 25BTC/block. Try a couple of other calculators and you'll likely find that the revenue (i.e. before electric costs are subtracted), is more like 85 cents/day.

I still really like bitwisdom, I hope they fix the block reward as I do agree it's a shame to have old number there.  But there is a manual fix you can do right now to use it just go to the "Block Reward" and change it to current.  That should fix it where everything is working correctly I belive.

One thing to make sure to include in figures is cooling aswell.  With it being summer I do run some fan's in my mining area that really help keep the temp down.  I do not live where evaporation cooling works due to climate, so stuck with high CFM's pushing that heat.  Then I use a professional gable fan to get it out of my mining area.   But all this can add up so make sure to include it when calculating ROI.

[CrimBit]

think again about electric cost too
trying use mining calculator and you will get negative profit
https://www.cryptocompare.com/mining/calculator/btc

He used 7c/kWh.

As for mining an altcoin with the same hashing algo., there's definitly nothing worthwhile long term out there.
Maybe for a few days and if you manage to sell the coins pretty quickly.

if he can sell his Antminer S5, i think better to buying some Vga and running GPU mining.. because some of new altcoin will give more chance to ROI

[Gahs]

Do you have a list of altcoins that can be mined with antminer S5? I had come to regard it as being obsolete. But altcoins could really drive demand for S5 again.

[leowonderful]

Do you have a list of altcoins that can be mined with antminer S5? I had come to regard it as being obsolete. But altcoins could really drive demand for S5 again.

There's no real list, as any Antminer can mine all SHA256 algorithm coins, but the most profitable generally tends to be Peercoin; at the time of the halving it was actually briefly more profitable than Bitcoin before all the miners moved onto it and the difficulty rose. It now sits at near the profitability of Bitcoin. It's a nice coin to solomine, and it's a good alternative to Bitcoin mining if you're looking for some fun. Coin-switching pools are going to be your best bet for mining generally, but most altcoins are not profitable- especially SHA256 ones. Still quite a shame that there's been no miners like the S5 anymore- it ran well for its time, and still runs well for people with free electricity.